WSJ What’s News: "Disney Names Its Theme Parks Chief as Bob Iger’s Successor"

Date: February 3, 2026
Host: Alex Osola (The Wall Street Journal)
Main Guest: Ben Fritz (WSJ Entertainment Reporter)

Episode Overview

This episode spotlights Disney's pivotal leadership change as Josh D’Amaro, head of Theme Parks and Cruise Ships, is named the next CEO, set to succeed Bob Iger in March. The discussion dissects the implications for Disney’s business, investor reactions, and the challenges ahead. The episode also touches on major market movements—like Walmart surpassing a $1 trillion market cap, a tech-led stock selloff, and other significant business and political developments.

Key Discussion Points & Insights

1. Disney’s Leadership Shift: D’Amaro Named CEO

• Announcement & Transition Plan
  • Disney names Josh D’Amaro as CEO, effective March; Bob Iger to remain on the board until December ([00:31-00:47]).
  • “They've tried to set Josh D’Amaro up for success.” – Ben Fritz ([00:37])
• D’Amaro’s Background & Preparation
  • Nearly three decades at Disney, mostly with theme parks and consumer products ([01:35]).
  • Parks and products now account for Disney’s majority profits, overtaking TV ([01:35-01:50]).
  • Limited experience with movies/TV, but good rapport with creative talent.
  • Dana Walden (entertainment executive) appointed president to partner with D’Amaro ([01:50-02:10]).

“Theme parks have become Disney’s most important business. ... Josh D’Amaro knows very well the most important business for Disney.”
— Ben Fritz ([01:35])

2. D’Amaro’s Management Style & Company Culture

• Strategic, financially savvy, and highly charismatic (“knows how to get along with anybody”) ([02:15-02:49]).
• Needs to balance public ambassadorial duties with internal leadership.

“He is a very ... strategic, financial-minded thinker, but he really knows how to get along with anybody who he needs to. He’s got very high charisma.”
— Ben Fritz ([02:20])

3. Lessons from Disney’s Last CEO Transition (“Chapek Episode”)

• Reference to Bob Chapek’s troubled tenure and firing ([02:49-03:03]).
• Current focus: avoid past mistakes; ensure D’Amaro is not undermined.
• Strong pressure on Iger to ensure a smooth handoff.

“...I think Bob Iger knows that it’s a real blight on his resume, how badly it went last time. ...He understands he can’t screw it up again.”
— Ben Fritz ([03:03])

4. Investor Sentiment & Wall Street Reaction

• Disney stock down 50% from 2021, stagnating since Iger’s return ([03:39]).
• Concerns: Tough transition from TV to digital; parks vulnerable to recession and lower tourism ([03:39-04:16]).

“Investors have been very sour on Disney for quite a while... There’s a lot of work to do to get investors on board.”
— Ben Fritz ([03:39])

5. Activist Pressure & Industry Skepticism

• Nelson Peltz's Reaction to the News
  • Predicts Iger may be reluctant to fully step away; criticizes the choice of a non-entertainment-head for CEO ([04:21-04:42]).
  • Peltz’s firm, Tryon, no longer holds Disney shares.

“Iger needs a reason to stay on. And if he put the person in charge of entertainment as the CEO, he wouldn’t have an excuse to stay on.”
— Nelson Peltz ([04:29])

6. Other Major Headlines (Summarized)

• Social Media Regulation:
  • France raids X (Twitter) offices, questions Musk over content moderation, algorithm bias, and criminal content ([04:42-05:50]).
• PepsiCo’s Price Cuts:
  • Pepsi to cut snack prices up to 15% amid rising complaints and pressure from activist shareholders ([05:50-06:00]).
• Walmart Hits $1 Trillion

  • Joins the trillion-dollar market cap club, driven by e-commerce growth and innovation in logistics ([06:00-06:47]).

    “We thought in the United States we could win food E-commerce. ...We knew there was a way to do this that would leverage the stores and would involve last mile delivery.”
    — Doug McMillan ([06:27])

• Tech Sector Sell-Off:

  • AI fears spark declines in software stocks ([07:04-07:48]).

    “Concerns that artificial intelligence tools will eventually make a lot of software redundant or obsolete.”
    — Hannah Aaron Lang ([07:04])

Notable Quotes & Moments

| Timestamp | Quote | Speaker | |-----------|-------------------------------------------------------------------------------------------|---------------------| | 00:37 | “They've tried to set Josh D’ Amaro up for success.” | Ben Fritz | | 01:35 | “Theme parks have become Disney’s most important business. ... Josh D’Amaro knows very well the most important business for Disney.” | Ben Fritz | | 02:20 | “He is a very ... strategic, financial-minded thinker, but he really knows how to get along with anybody who he needs to. He’s got very high charisma.” | Ben Fritz | | 03:03 | “…I think Bob Iger knows that it’s a real blight on his resume, how badly it went last time. ...He understands he can’t screw it up again.” | Ben Fritz | | 03:39 | “Investors have been very sour on Disney for quite a while... There’s a lot of work to do to get investors on board.” | Ben Fritz | | 04:29 | “Iger needs a reason to stay on. And if he put the person in charge of entertainment as the CEO, he wouldn’t have an excuse to stay on.” | Nelson Peltz | | 07:04 | “Concerns that artificial intelligence tools will eventually make a lot of software redundant or obsolete.” | Hannah Aaron Lang |

Timestamps of Important Segments

• Disney CEO Change and Analysis: [00:31]-[04:19]
• Nelson Peltz’s Reaction: [04:21]-[04:42]
• Other Market Headlines: [04:42]-[07:48]
• Walmart E-commerce Insight (Doug McMillan): [06:27]-[06:47]
• Tech Sector Sell-Off (AI concerns): [07:04]-[07:48]

Additional Topics Covered

• US and Iran tensions escalate in the Persian Gulf ([09:00-09:55])
• Argentina’s President Milei and the challenge of repatriating citizens' US dollar stashes ([10:31-13:07]):
  • Insight into Argentina’s financial culture and Milei’s attempts at a tax amnesty for dollar deposits.
  • “The only place that I think people don’t hide money is under the mattress, because that's, I think, the first place that burglars would look.” – Samantha Pearson ([11:51])
  • Persistent distrust in government promises due to historical broken pledges.

Conclusion

This brisk, information-packed episode breaks down an executive succession that could define Disney’s future, scrutinizes market reactions, and places the shakeup amidst broader business and geopolitical headlines. The hosts and guests deliver sharp, clear insight, making this a valuable listen for anyone tracking the entertainment industry, market dynamics, or global headlines.